Managers of Wealth Africa

South Africa is falling apart

South Africa is currently in the grip of its worst-ever power cuts, while coal exports fell to a 30-year low in 2022 because of the poor performance of the national freight rail company.

I&M waives bank to mobile fees permanently

The CBK had temporarily stopped the charges from mid-March 2020 in a bid to lower the risk of Covid-19 infections by encouraging cashless transactions but reinstated the charges in January.

IMF Resident Advisor assigned to BoG to provide technical assistance

The Bank of Ghana notes that the Advisor will support the implementation of Pillar 2 and 3 of the Basel II/ III capital frameworks

ZAR X exchange licence cancelled

In line with the sector’s regulations, ZAR X is now required to immediately inform all affected persons and all affected stakeholders of the immediate cancellation of its licence and cease all business of an exchange.

Another state of disaster declared in South Africa

The floods have damaged homes, businesses, basic infrastructure, roads, and bridges and affected crops and livestock.

World Bank urges Ghana to boost human capital to accelerate growth

The World Bank has had a productive engagement in the Ghanaian education sector over the past three decades.

Ruto fixes CBK legal hitch with deputy governor appointment

The law enacted in 2015 demands that the executive team at the CBK be composed of the governor and two deputies.

KRA set to tax hedging profits under new rules

Players in Kenya’s rapidly growing foreign exchange trading market are now also within KRA’s net.

Flutterwave Expands into North Africa After Bagging PSP Licence in Egypt

“This, for us, is the beginning of other strategic wins in the North Africa and Middle East regions.”

Employers to take the biggest hit as NSSF implements Act

Though employees will see their deductions go up, they stand to be the ultimate beneficiaries of better retirement perks at maturity.

Naira gains 0.07% at investors, exporters window

A total of 55.52 million dollars was traded at the official Investors and Exporters window on Thursday.

More banks shut down as new notes scarcity persists

This came amid a Supreme Court injunction asking the Central Bank of Nigeria not to implement the February 10 deadline.

Nigeria’s central bank to address issue of ‘exorbitant’ PoS fees shortly

PoS operators are now charging 10% withdrawal charges due to scarcity of new naira notes

Treasury takes biggest overdraft

The official report shows that the outstanding overdraft at the Central Bank of Kenya (CBK) rose to Sh64.51 billion by end of Friday last week

New court ruling keeps SARS in check

In this case, the taxpayer in question is a shareholder in several companies that loan money to one another, and a central issue in the tax dispute was the loan account in one of the taxpayer’s companies.

Warning over national state of disaster in South Africa

“Under a state of disaster, the executive can issue regulations that limit rights, but only if, in doing so, they achieve the objectives of the state of disaster.”

These businesses in South Africa need to fall in line with regulation changes – or face massive fines and jail time

Organisations that provide credit to clients are also likely seen as accountable institutions according to FICA, even if the National Credit Act applies.

MPs shield 1,764 regulations from expiry with extension

The law further stipulates that Cabinet secretaries consult with the relevant committee of Parliament to make regulations extending the operation of the statutory instrument for not more than 12 months.

Hilary Joffe: Kganyago spells out dual mandate issue

What if the ANC didn’t like the Reserve Bank’s intervention in labour market policy?

Access Bank eyes new acquisition after collapse of Sidian Bank deal

It said although regulators were supportive in engagements around the Sidian Bank transaction, certain conditions needed to prudently complete the deal were not met.

Regulation,Tax & Compliance